Ensure what we are implementing is actually giving us the output we are looking for
Are we assuming that employees are motivated by money? And maybe they’re not
Experience: an automated way to provide some level of additional “base” pay each year… typically want to cap this.
“Want to stay under 40% compensation of revenue if possible”
Calibration point… the point where EE would earn the same on your comp model as they earn currently
PTO:
- can guarantee full pay
- can tie to production (i.e. tie it to what they have averaged over the past x months)
New Hires:
- Correlation between length of grace period and level of stress
- If more than 2 yrs exp recommended 3 month grace period, < 2 years exp, 6 months
Fed Min 36000 per year.. it’s a weekly requirement
Some individual states have their own requirements and may be higher than the federal requirement
Non exempt, still need to follow minimum wage requirements in the area
Option for rolling this out for just new providers
Historic data: Ideally there are a few weeks where their pay would have exceeded what they are currently making
New grads don’t start until 1 year completion of onboarding program
PTO: accrues… paid out equivalent to a full therapist salary
For every year experience, therapists get an extra 1000 dollars on their base